From A Woman's Perspective: June 8th, 2024 "Common Objections to Downsizing - Part 1 of 2"
Friday Jun 07th, 2024
Common objections to downsizing - Part 1 of 2
Good morning, Marilyn. I thought for a bit of fun today, I’d share my top ten most common objections to downsizing. These are the real-life air quotes - “reasons” - I hear from empty-nesters why they are choosing to stay in their oversized homes.
10. I don’t have the money to renovate my home for sale.
Truth be told, Marilyn, I rarely recommend renovating a property for the purposes of selling. Renovation is upgrading existing functional aspects of your home to make them more luxurious or attractive. Taking care of deferred maintenance, however, is another matter. Yes, home sellers should make known needed repairs to maximize their chances of a successful sale. Think of the cost of repairs as an investment in your final selling price. In a $1,000,000 home 1% to 2% is often enough to get homes market ready.
For my recommendations on home improvements that pay off at sale time, why not request your copy of my booklet, “Best Renos for ROI” on my website?
9. We want to have enough room for guests and entertaining.
Objectively speaking, how often do guests stay with you? Is it frequently enough to warrant maintaining an oversized home for the occasional week or two a year? In my family, entertaining has gradually shifted generations from my parents’ to my generation. After so many years of hosting, isn’t it someone else’s turn? Oh, and by the way, lots of condos have guest suites and party rooms for just such occasions.
8. I have a big dog.
A common misconception is that dogs aren’t allowed in condos. Very few boards decide on an outright ban on canines, but there might be restrictions as to size or number of dogs. That’s where your trusty Realtor can help find you the pet-friendly properties that meet your needs. I love finding ground floor apartments for just this reason!
7. I love my neighbourhood, and know all the local shops and restaurants.
Staying within familiar territory is definitely important to a lot of people as they age. But this doesn’t mean you can’t get something smaller AND in your same neighbourhood. By downsizing, empty-nesters can often access tens of thousands of dollars in tied-up equity that will allow them to really enjoy an enhanced lifestyle while maintaining their community roots.
6. My spouse doesn’t want to move.
Hmmm…this is tricky. I understand each situation is unique, but frequently opposition can actually be a request for more information, on both sides! Gently probing for the underlying practical or emotional reason might shed light on whether this is a firm “No,” or a “No, not right now” statement. It’s fine if staying is plan A, but what is plan B and what will be the agreed-upon triggers to make moving a priority? Seek to understand your spouse, rather than to convince them. Negotiating an outcome that is acceptable to both requires a “win/win” mindset.
Next week, Marilyn, I’ll continue the countdown of the most common objections to downsizing, as well as provide suggestions to overcome those roadblocks. In the meantime, check out our website, smartrealtysolution.com for tons of downloadable e-booklets on a variety of topics related to downsizing.
And if you happen to be near the town of Markham next week, we have a special workshop opportunity to join me in person. “Downsizing Done Right” is designed to give empty-nesters the tools they need to customize their next smart move. Topics include: capturing a vision of what downsizing can do for your wellness and lifestyle, property options that aren’t just condos, and much more. Full details are at smartrealtysolution.com or by calling me, Sharon, at 416-460-5636. Like everything at SMART Realty Solutions, our workshops, the accompanying workbooks, and light refreshments are always free of cost or obligation.
And if you’re ready to finally overcome your internal obstacles to downsizing, remember, asking “How?” isn’t usually the right question. Try asking “Who?” instead. Who do I need to guide me through this process? Who can bring in the resources I need to make this move less work, worry and stress? When you ask “Who?” there’s only one SMART answer. 😀
Here’s a link to register to our upcoming workshop for downsizing:
Downsizing Done Right!
Get your free workbooks here:
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